CMMS for Inventory Management: Ensuring Adequate Parts and Supplies

Suyash Kaushik
Sep 13, 2023
3 min read

Updated: Oct 25, 2023

“Do you ever discover that you're running short on supplies or parts just when you need them most? Another possibility is that you have too much merchandise, which costs you money and takes up space. In that case, a CMMS is required for inventory management. You can manage your inventory levels using a CMMS, improve your reorder points, and reduce waste.’’

CMMS is software that helps manage assets and track work orders. Efficient CMMS software can also help with inventory management, which is the process of tracking and controlling the materials and equipment needed for maintenance operations.

A valuable tool for inventory management is CMMS. Several advantages of CMMS for inventory management include:

Increased accuracy
Reduced costs
Improved visibility

This article will discuss in great detail various aspects of CMMS for inventory management.

Understanding Inventory Management in Maintenance

Planning, managing, and controlling the moving of goods and materials into, through, and out of an organization is the process of inventory management.

Inventory control is essential for ensuring that supplies and components are available for maintenance when they are required. This is necessary to avoid unanticipated downtime, which may be expensive and disruptive.

Inventory managers must take into account a variety of variables to ensure the availability of components and supplies. These comprise:

The types of parts and supplies that are needed
The demand for these parts and supplies

Introduction to CMMS for Inventory Management

A complete software system known as a CMMS for inventory management enables businesses to optimize their inventory procedures.

To provide maintenance and inventory services, a Computerized Maintenance Management System (CMMS) for inventory management is a must. Processes like purchasing, stocking, planning delivery, and tracking usage are all made easier with its assistance. A load of manually controlling inventory may be taken off a company's shoulders with CMMS for inventory management.

Important CMMS features for inventory management are as follows:

Inventory tracking
Requisition tracking
Vendor management

Inventory Tracking and Optimization with CMMS

Every organization needs inventory monitoring since it has a significant effect on the costs and productivity of the enterprise.

Two of the most common solutions for tracking inventory are barcode and RFID systems.

Barcode systems employ a sequence of vertical lines to convey data, While RFID systems monitor and identify objects using radio waves.

The ideal option for your company will depend on your unique needs, as Both systems have benefits and drawbacks of their own.

Streamlining Procurement and Reordering Processes

Making sure that your business has the components and supplies it needs to run effectively depends on a smooth procurement process.

Integrating your suppliers and vendors is one of the finest methods to streamline your procurement process. This entails utilizing technology to connect your procurement system with theirs so you can more quickly share information and coordinate orders.

Integrating with your suppliers and vendors has several advantages:

Improve communication
Increase efficiency
Reduced paperwork

Preventing Obsolescence and Managing Surplus Inventory

Inventory that is no longer required or desired by customers is referred to as obsolete inventory. Inventory that is more than what is required to satisfy consumer demand is referred to as surplus inventory.

Inventory management can benefit greatly from the use of computerized maintenance management systems (CMMS). They may be used to monitor how often parts are utilized, spot surplus inventory, and mark out-of-date components. Using this knowledge, surplus inventory may be efficiently managed, and obsolescence can be prevented.

The following are some methods for identifying and managing surplus inventory using CMMS data:

Track parts usage
Identify excess inventory levels
Flag obsolete parts

Continuous Improvement and Data Analysis

An effective instrument for continual inventory management improvement is a CMMS. You may pinpoint places where your inventory management procedures can be strengthened by reviewing data from the system. Data can be used, for instance, to determine:

Parts that are frequently used and need to be reordered more often.
Parts that are rarely used and may be candidates for disposal.

Analyzing inventory data and consumer trends is crucial for making wise judgments about inventory management. This information may be utilized to spot regions with excessively high or low inventory levels as well as patterns in consumer behavior.

The advantages of analyzing inventory data and usage patterns are:

Improved inventory accuracy
Reduced costs
Improved customer service

Conclusion

CMMS, especially when integrated with FieldCircle under the guidance of CEO Yogesh Choudhary, proves invaluable for efficient inventory management. It empowers you to track and optimize inventory levels, reducing waste, enhancing accountability, and identifying improvement opportunities in your inventory management processes. When considering CMMS for inventory management, remember to leverage FieldCircle's capabilities and expertise for optimal results.